Considering basically every team in the NL still has a chance to make the playoffs, looking forward to next season might seem stupid. But once I start sorting through the flukey and unlucky performances to find my 2007 Cy Young winner, it’s pretty easy to pick out who’s heading into 2008 either under- or over-rated.

Let’s begin with the over-rated starters — those whose xFIP’s are the highest compared to their actual ERAs. xFIP is a fielding-independent ERA based on strikeout-rate, walk-rate, and an extrapolated homerun-rate. It’s been shown that groundball rate is a better indicator of future homerun-rate than homerun-rate itself. Also, the percentage of flyballs that turn into homeruns is not indicative of a pitcher’s skill and tends to even out over time. xFIP is not the end-all of pitcher metrics, but if you have to pick one that’s readily available, I think it’s the best for projecting context-neutral performance.

The chart below shows the top 25 over-rated starters headed into 2007 (min 100 IP in 2007.) Data is through the games on September 17. The columns to the right of ERA-xFIP represent some of the reasons why a pitcher might be under- or over-rated. UERA is the number of unearned runs allowed per nine innings (pitchers are not totally without blame for those runs.) DER is defensive efficiency (a higher ratio represents better fielding. DER is basically 1-BABIP.) HR/FB is the percentage of flyballs that are homeruns. LOB% is the percentage of runners that were left on base.

Keep in mind that pitchers may benefit in 2008 from some of the same biases they did this year. For example, Chris Young’s HR-rate is likely to be lower than expected again in 2008 because he’ll still be pitching half his games in spacious PETCO. Finally, remember that “over-rated” is not necessarily the same as “bad”. These are pitchers you may want to avoid taking too early in fantasy drafts, for example.

Last	Tm  	IP	Diff	xFIP  	UERA	DER  	HR/FB  	LOB%
Young 	SD 	156	-1.83	4.60	.35	.766	5.1%	74%
Trachs	BAL 	141	-1.73	6.21	.19	.725	8.3%	75%
Bannis	KC 	159	-1.70	5.09	.28	.745	7.8%	72%
Lowry 	SF 	156	-1.53	5.45	.46	.716	8.1%	74%
Penny 	LAN 	197	-1.39	4.27	.18	.705	3.6%	76%
Kenned	OAK 	101	-1.34	5.71	.35	.711	8.5%	73%
Gorzel	PIT 	185	-1.33	4.78	.15	.713	8.1%	77%
Perez 	NYN 	165	-1.28	4.71	1.03	.733	10.9%	73%
Glavin	NYN 	190	-1.22	5.10	.15	.724	8.9%	75%
Chico 	WAS 	150	-1.18	5.79	.60	.718	12.4%	74%
Billin	LAN 	135	-1.03	4.17	.13	.723	10.5%	82%
Buehrl	CHA 	195	-1.02	4.57	.23	.717	9.1%	76%
Lackey	LAA 	202	-1.00	4.21	.53	.692	9.1%	76%
Hernan	NYN 	144	-.98	4.73	.19	.778	13.8%	77%
Cain 	SF 	187	-.97	4.68	.14	.722	6.0%	72%
Peavy 	SD 	203	-.96	3.35	.18	.724	6.0%	78%
Carmon	CLE 	202	-.95	4.02	.23	.719	11.2%	77%
Wainwr	STL 	182	-.94	4.65	.25	.693	6.6%	75%
Verlan	DET 	184	-.91	4.38	.30	.714	7.6%	74%
Haren 	OAK 	211	-.90	4.02	.60	.711	10.2%	75%
Marqui	CHN 	183	-.88	4.95	.59	.750	11.4%	71%
Maine 	NYN 	174	-.86	4.58	.37	.738	10.9%	75%
Weaver	LAA 	150	-.85	4.75	.42	.686	7.9%	73%
Escoba	LAA 	190	-.85	4.31	.24	.700	5.9%	73%
Washbu	SEA 	181	-.81	5.34	.45	.709	9.5%	70%

Here are some interesting things that caught my eye:

  • Oliver Perez is allowing over one unearned run per game. None of the other members of the Mets rotation is above .37.
  • Jake Peavy has the lowest xFIP of any player on the list at 3.35. Only Erik Bedard and Brandon Webb posted lower xFIPs this season.
  • Steve Trachsel has the highest xFIP of any pitcher on the list. Steve Trachsel isn’t a good bet for 2008? That’s crazy talk.
  • Matt Cain’s gotten the reputation as a hard-luck loser in 2007. Yes, his Win-Loss record is unlucky relative to his ERA, but his ERA has been lucky.
  • Orlando Hernandez makes the list even though he’s given up HRs on almost 15% of flyballs. Why? Well, he gives up a lot of flyballs for one. But most importantly, the Mets are turning 77% of his balls in play into outs. That’s sort of like pitching against all .230 hitters.
  • John Maine and Tom Glavine make it four Mets starters on the list. New York really owes their success in 2007 to hitting and fielding. And if there’s anything to be read from their lack of success in Philadelphia, it’s that allowing a lot of flyballs in a homerun park against a lineup with a lot of power is not a good strategy.
  • Chad Billingsley has stranded 82% of all baserunners (with the help of his bullpen.) Yes, better pitchers have higher LOB%s because scoring occurs when batting events chain together and good pitchers allow fewer positive batting events overall. But 82% is Pedro circa 2000 territory.
  • Brad Penny’s given up only six homeruns all year. Yes, he’s turned into more of a groundball pitcher this year, but only allowing 3.6% of flyballs to turn into homeruns is not sustainable. Chien-Ming Wang is at 6% and Brandon Webb is at 9%.

Anything else you find interesting? The next installment will be the pitchers headed into 2008 under-rated by ERA.

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